Thursday, March 27, 2008

Irresponsibility can be costly

Especially when it’s the government. The UPA has kissed fiscal responsibility good-bye as evident from it’s populist schemes. Government spending is one of the biggest burden on the treasury (and the taxpayer ultimately), yet more & more is doled out each year.

Now that the FM has elaborated that the farm loan waiver will have phases, it is clear that the burden will be on the subsequent government (guess Congress does not fancy it’s chances in the next election). That’s a lot for the next government to worry about, an added distraction to balance the finances when it ought to have money for India’s progress (roads, power etc). Add to that the further burden of the sixth pay commission. Wait, there’s more, NREGS, oil bonds, fertilizer bonds, religious subsidies, Sachar recommendations. There’s just do end to government spending. Where will all the money come from? More taxes & more borrowing.

60 years of independent India’s history would be enough to learn any lesson, but the government just doesn’t get it. All the socialist measures meant for the welfare of the people have not yielded any results. We still continue to figure on those lists, poor countries, the malnutrition, the illiterate, the infant mortality, the female foeticide & all such. Yet our governments continue pouring more money into failed schemes. Maybe our leaders do realize this, but they just do not want to admit failure. That isn’t exactly responsible behavior.

Clearly the leaders have failed in providing a better environment for us. A lot of time & money has been laid waste. It’s time for the leaders to stay away from all those areas they failed in & let the private sector help them. No point in wasting more money. The government should tend to only matters of national & strategic importance & let the private companies do the all the work to provide a better life for the people. This will save some time for the governments to concentrate on the national interest than on vote banks. Moreover, there no longer will be any need to have all those sundry ministries, reducing the number of ministers & government spending.

If our leaders are serious about the progress of our nation, they should realize their failures, admit them & be prepared to hand over responsibility to those who can carry them out efficiently. They have a responsibility towards the nation.